Global distributor of tech, utility power, network and security products to centralize its East Coast sales team at new Fortune Drive location
Media Contact: Nicole Burton
FRANKFORT, Ky. (Aug. 15, 2019) – Anixter Inc., a global distributor of technology, electronic, network and security products, plans to invest $4.23 million and grow by 103 full-time jobs as it relocates within Lexington, Gov. Matt Bevin announced today.
“The expertise and products supplied by Anixter support manufacturing, service, and tech companies within Kentucky and beyond,” Gov. Bevin said. “Anixter’s decision to greatly expand their presence and employment in Kentucky is positive affirmation of our strong pro-business climate, unmatched distribution and logistics infrastructure, and our highly trained workforce. We are grateful to Anixter for their significant investment and job creation in the Bluegrass State, and we look forward to watching the company continue to grow in the years ahead.”
Anixter’s current 12-employee sales office on Majestic Drive in Lexington will relocate to the newly constructed 38,500-square-foot Turner Development Business Center on Lexington’s Fortune Drive. Anixter will occupy 21,000 square feet.
Anixter leaders said growth projections prompted the expansion. The project will create a centralized, Kentucky-based sales team to provide seamless service for East Coast customers. As well, the new facility will bring the opportunity to add at least three new Anixter technologies to Kentucky, including audio visual, wireless communication and power services.
“Anixter is excited to have Lexington as the home of our new East Coast sales hub for our Network & Security Solutions segment. As a company that is constantly adapting to meet the changing needs of our customers, we found the same spirit of investment and growth here in Lexington.” said Anixter President and CEO Bill Galvin. “We look forward to continuing to build relationships in Kentucky and enhancing our service to customers across the east coast region.”
Anixter International employs more than 9,300 people and distributes products for network and security, electrical and electronic and utility power applications globally. The company helps build, connect, protect and power valuable assets and critical infrastructures. As well, it works to lower the cost, risk and complexity of its customers’ supply chains.
For its approximately 130,000 customers, Anixter supplies nearly 600,000 products and keeps over $1 billion in inventory at 316 warehouses/branch locations in over 300 cities across approximately 50 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on the New York Stock Exchange under the symbol AXE.
Lexington Mayor Linda Gorton welcomed Anixter’s expansion in Lexington.
“Attracting new employers and supporting our hometown employers are top priorities for us,” she said. “A growing economy and new jobs enable our city to afford quality of life investments, which in turn attract new companies that place a high premium on quality of life to Lexington.”
Sen. Ralph Alvarado, of Winchester, applauded the company for its continued commitment to the community.
“Expanding infrastructure is a critical investment for local communities, bringing both economic growth and improved quality of life,” Sen. Alvarado said. “I commend Anixter for generating new job opportunities and for their long-term dedication to the Lexington area.”
Rep. Ruth Ann Palumbo, of Lexington, said the project highlights the region’s strong workforce while creating quality job opportunities.
“Anixter’s expansion within Lexington is a welcomed decision. This will increase the jobs they bring to our community, is a much-needed investment into our state’s economy and it reinforces the quality of our workforce that they would be so inclined to expand their current Kentucky operations,” Rep. Palumbo said. “I wish them the best and congratulations to all involved with the expansion.”
Bob Quick, president and CEO of Commerce Lexington, credited workforce preparation and business-friendly policies in helping land the project.
“Anixter’s decision to expand in Lexington is a testament to our educated workforce and cost of doing business,” Quick said. “We appreciate the continued commitment and investment that Anixter has made in Lexington. Congratulations on your expansion.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority in December 2018 preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.6 million in tax incentives based on the company’s investment of $4.23 million into the mill and annual targets of:
- Creation and maintenance of 103 Kentucky-resident full-time jobs across 10 years
- Paying an average hourly wage of $44 including benefits across those jobs
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
For more information on Anixter, visit www.Anixter.com.
A detailed community profile for Fayette County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook, follow on Twitter and watch the Cabinet’s “Now you Know” video on YouTube.